,,ii  #aadth ,,congress  #b;d ,session  
,s4 #cdea  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,september #bh1
 #bjaf,mr4 ,brown introduced the        
following bill2 which was read twice and
 referred to the ,committee on ,finance 
,a ,,bill  ,to amend the ,internal      
,revenue ,code of #aihf to provide a    
refundable and advanceable tax credit   
for individuals with young children4    
#a4 ,short title2 findings  7a7 ,short  
title ,this ,act may be cited as the    
,young ,child ,tax ,credit ,act4  7b7   
,findings ,congress finds the following3
  7#a7 ,economists have found similar   
effects of the importance of income in  
the earliest years with returns to      
school achievement4  7#b7 ,pediatricians
 and other child development experts    
have long talked about the critical     
importance of the earliest years of     
life4  7#c7 ,young children1 including  
babies and toddlers1 are the poorest    
people in the country by age4  7#d7     
,with the recent improvements signed    

into law in ,december1 together1 the    
,child ,tax ,credit and ,earned ,income 
,tax ,credit now lift more children out 
of poverty than any other ,federal      
policies4  7#e7 ,families with young    
children receive the smallest child tax 
credits1 despite the fact that the      
economic literature suggests that these 
credits have particularly beneficial    
effects for families with young         
children4  7#f7 ,economists have found  
that large fluctuations in a family's   
income can be detrimental to the        
development of young children4 ,research
 on scarcity have found it is hard for  
parents to focus on children if they are
 worrying about having sufficient income
 to meet their family's needs4  #b4     
,young child tax credit  7a7 ,in general
 ,subpart ,c of part ,,iv of subchapter 
,a of chapter #a of the ,internal       
,revenue ,code of #aihf is amended by   
inserting after section #cf;,b the      
following new section3  #cf;,c4 ,young  
child tax credit  7a7 ,in general ,in   

the case of an individual1 there shall  
be allowed as a credit against the tax  
imposed by this subtitle for the taxable
 year an amount equal to the product    
of--  7#a7 the applicable dollar amount1
 multiplied by  7#b7 the number of      
qualifying children of the taxpayer for 
which the taxpayer is allowed a         
deduction under section #aea and who 7as
 of the close of such taxable year7 have
 not attained age #c4  7b7 ,applicable  
dollar amount ,for purposes of this     
section1 the term applicable dollar     
amount means with respect to any taxable
 year1 the product of-- 7#a7 #a4e1      
multiplied by  7#b7 the dollar amount in
 effect under section #bd7;a7 for the   
taxable year4  7c7 ,limitation based on 
adjusted gross income  7#a7 ,in general 
,the amount of the credit allowable     
under subsection 7a7 shall be reduced   
7but not below zero7 by the phaseout    
amount for each #a1jjj 7or fraction     
thereof7 by which the taxpayer's        
modified adjusted gross income 7as      

defined in section #bd7;b77#a77 exceeds 
the threshold amount 7as defined in     
section #bd7;b77#b774  7#b7 ,phaseout   
amount ,for purposes of this subsection1
 the term phaseout amount means #a4e    
multiplied by the first dollar amount in
 section #bd7;b77#a74  7d7 ,qualifying  
child ,for purposes of this section1 the
 term qualifying child has the meaning  
given such term by section #bd7;c74  7e7
 ,identification requirement ,no credit 
shall be allowed under this section to a
 taxpayer with respect to any qualifying
 child unless the taxpayer includes the 
name and taxpayer identification number 
of such qualifying child on the return  
of tax for the taxable year4  7f7       
,reconciliation of credit and advance   
credit  7#a7 ,in general ,the amount of 
the credit allowed under this section   
for any taxable year shall be reduced   
7but not below zero7 by the aggregate   
amount of any advance payments of such  
credit under section #gebg;,a for such  
taxable year4  7#b7 ,excess advance     

payments ,if the aggregate amount of    
advance payments under section #gebg;,a 
for the taxable year exceed the amount  
of the credit allowed under this section
 for such taxable year 7determined      
without regard to paragraph 7#a771 the  
tax imposed by this chapter for such    
taxable year shall be increased by the  
amount of such excess4  4  7b7 ,advance 
payment of credit ,chapter #gg of such  
,code is amended by inserting after     
section #gebg the following new section3
  #gebg;,a4 ,advance payment of young   
child tax credit  7a7 ,in general ,as   
soon as practicable and not later than  
#a year after the date of the enactment 
of this ,act1 the ,secretary shall      
establish a program for making advance  
payments of the credit allowed under    
section #cf;,c on a monthly basis1 or as
 frequently as the ,secretary determines
 to be administratively feasible1 to    
taxpayers allowed such credit           
7determined without regard to section   
#cf;,c7f77#a774  7b7 ,limitation ,the   

,secretary may make payments under      
subsection 7a7 only to the extent that  
the total amount of such payments made  
to any taxpayer during the taxable year 
does not exceed the amount determined   
under subsection 7a7 of section #cf;,c  
with respect to such taxpayer           
7determined without regard to           
subsections 7c7 and 7f7 of such         
section74 ,such program shall make      
reasonable efforts to apply the         
limitation of section #cf;,c7c7 with    
respect to payments made under such     
program4  4  7c7 ,conforming amendments 
7#a7 ,section #aeb7;f77#f77;,b7 of such 
,code is amended by striking and at the 
end of clause 7iii71 by striking the    
period at the end of clause 7iv7 and    
inserting 1 and1 and by adding at the   
end the following new clause3  7v7 the  
credit under section #cf;,c 7relating to
 young child tax credit74  4  7#b7      
,section #fbaa7;b77#d77;,a7 of such     
,code is amended by inserting #cf;,c1   
after #cf;,b14  7#c7 ,section           

#fbac7;g77#b7 of such ,code is amended  
by striking and at the end of           
subparagraph 7,p71 by striking the      
period at the end of subparagraph 7,q7  
and inserting 1 and1 and by inserting   
after subparagraph 7,q7 the following   
new subparagraph3  7,r7 an omission of a
 correct ,,tin required under section   
#cf;,c7e7 7relating to young child tax  
credit7 to be included on a return4  4  
7#d7 ,section #fdjb7m7 of such ,code is 
amended by striking or #cb and inserting
 1 #cb or #cf;,c4  7#e7 ,section        
#ffie7;g7 of such ,code is amended by   
striking or #cb and inserting #cb1 or   
#cf;,c4  7#f7 ,section #acbd7;b77#b7 of 
title #ca1 ,united ,states ,code1 is    
amended by inserting #cf;,c1 after      
#cf;,b14  7#g7 ,the table of sections   
for subpart ,c of part ,,iv of          
subchapter ,a of chapter #a of the      
,internal ,revenue ,code of #aihf is    
amended by inserting after the item     
relating to section #cf;,b the following
 new item3  ,sec4 #cf;,c4 ,young child  

tax credit4  4  7#h7 ,the table of      
sections for chapter #gg of such ,code  
is amended by inserting after the item  
relating to section #gebg the following 
new item3  ,sec4 #gebg;,a4 ,advance     
payment of young child tax credit4  4   
7d7 ,effective date  7#a7 ,in general   
,the amendments made by this section    
shall apply to taxable years beginning  
after ,december #ca1 #bjaf4  7#b7       
,advance payment program ,the ,secretary
 of the ,treasury1 or his designee1     
shall establish the program described in
 section #gebg;,a of the ,internal      
,revenue ,code of #aihf 7as added by    
this section7 not later than such date4